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Ringneck Energy's CEO said its new 80 million gallon ethanol plant in Onida, South Dakota, has operated since passing performance tests on June 4. He said other ethanol plants are shutting down amid negative margins, which the industry blames partly on EPA small-refinery exemptions.
Ethanol plant closures reduce corn grind and distillers grains output, which is bearish for corn demand and modestly tightens DDGS supply.
spglobal.comAug 30, 2019After 310 past bearish policy events, Corn moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
